We Need Serious Budget Help...- General Budget & Finance

I have never had to be frugal-we always squeezed by. Now we are buying our own
home the monthly payment will be $600 with one income of $300 a week and 4 kids
to feed. I need serious help, I have no ideal even where to start reducing our
bills. Are there any books or anything that may help? jane

We Need Serious Budget Help...

I have never had to be frugal-we always squeezed by. Now we are buying our own
home the monthly payment will be $600 with one income of $300 a week and 4 kids
to feed. I need serious help, I have no ideal even where to start reducing our
bills. Are there any books or anything that may help? jane a

With your new mortgage being half of your monthly income, you're going to have to really cut it close to the bone. You'll need to seriously look at what's a necessity and what's a luxury.

Make a menu of meals, cook your meals at home, eat a few cheap meals a week, take lunches to school (if it's cheaper) and work, shop the sales at the grocery store and plan your menus around the sale items. Shop at stores that double coupons (if they do) and use those coupons. Use your crockpot often so you can save on electric and take advantage of cheaper cuts of meat. Save eating out for special occasions. Build up your food pantry as you can (by taking advantage of sales). Check out stores like Big Lots and the Dollar Store for food.

As far as utilities, disconnect the cable or satellite, reduce any unnecessary options on your phone service, turn off lights/appliances when they're not being used, wash clothes in cold water and air dry what you can so you can use your dryer less, turn your A/C up to a higher temp and use ceiling fans and turn your heat down to a lower temp. Look for a cheaper internet service provider.

Don't be wasteful when using the car. Don't make unnessary trips to the store. Wait for 5 or more items before you go to the store. Then do a lot of your stops in 1 trip. Check out Goodwill, thrift stores and yard sales for children's clothing and etc. Use the library for books and DVD's. Save all of your change in a jar. Always put something back for emergencies, even if it's just a few dollars.

Always ask yourself before you make a purchase. . .is this a necessity or a want-to-have item.

I'm sure other people will be able to contribute more ideas than the ones I've provided here. Forced frugality is never a fun thing to do. But, it can become a way of life and something you may possibly want to continue as your financial situation gets better. Don't confuse frugal with being poor. There are a lot of people with plenty of income who choose to live a frugal lifestyle. There is no shame in it. Don't take on a "poverty poor" attitude.

Re: We Need Serious Budget Help...

I hope I am not overstepping here Savin' Moola, but have you checked into receiving food stamps? I don't know what state you live in, but with that many people in your home and a high mortgage payment + other bills you would probably qualify. I have health problems and can't work and there are 4 of us. We get food stamps and I am able to make them stretch by using my coupons. I went to Wal-Mart last night and got about worth of extra groceries using my coupons. Our Wal-Mart doesn't charge taxes on coupons either like some of the other stores in my area. Hope this helps.

Re: We Need Serious Budget Help...

With your new mortgage being half of your monthly income, you're going to have to really cut it close to the bone. You'll need to seriously look at what's a necessity and what's a luxury.

Make a menu of meals, cook your meals at home, eat a few cheap meals a week, take lunches to school (if it's cheaper) and work, shop the sales at the grocery store and plan your menus around the sale items. Shop at stores that double coupons (if they do) and use those coupons. Use your crockpot often so you can save on electric and take advantage of cheaper cuts of meat. Save eating out for special occasions. Build up your food pantry as you can (by taking advantage of sales). Check out stores like Big Lots and the Dollar Store for food.

As far as utilities, disconnect the cable or satellite, reduce any unnecessary options on your phone service, turn off lights/appliances when they're not being used, wash clothes in cold water and air dry what you can so you can use your dryer less, turn your A/C up to a higher temp and use ceiling fans and turn your heat down to a lower temp. Look for a cheaper internet service provider.

Don't be wasteful when using the car. Don't make unnessary trips to the store. Wait for 5 or more items before you go to the store. Then do a lot of your stops in 1 trip. Check out Goodwill, thrift stores and yard sales for children's clothing and etc. Use the library for books and DVD's. Save all of your change in a jar. Always put something back for emergencies, even if it's just a few dollars.

Always ask yourself before you make a purchase. . .is this a necessity or a want-to-have item.

I'm sure other people will be able to contribute more ideas than the ones I've provided here. Forced frugality is never a fun thing to do. But, it can become a way of life and something you may possibly want to continue as your financial situation gets better. Don't confuse frugal with being poor. There are a lot of people with plenty of income who choose to live a frugal lifestyle. There is no shame in it. Don't take on a "poverty poor" attitude.

WOW... these are awesome tips, just what I am looking for on here, being new to B101! Thanks